How to learn which credit card is better for your financial freedom journey. The Credit Card or the Store Credit Card. Did you know the average retailer-branded credit card has a ridiculously high APR? According to a recent article from Yahoo Finance: Say you purchase $1,000 worth of items on a store credit card with a 25% interest rate. Assuming you make the minimum $30 monthly payment, it'll take you 58 months to pay it off, and you'll end up paying $725 in interest. If you had put that purchase on a traditional rewards card with a 16% interest rate, it would only take 45 months to pay off, and you'd only pay $331 in interest. Here's a link to the full article https://finance.yahoo.com/news/store-... Like Smart Money Cafe on Facebook: https://m.facebook.com/smartmoneycafe
Podchaser is the ultimate destination for podcast data, search, and discovery. Learn More